Autonomix Medical completes $11 million IPO

Autonomix Medical, based in The Woodlands, has completed its $11.2 million Initial Public Offering. The shares will begin trading on NASDAQ under the ticker symbol ‘AMIX’.



The company is developing medical devices to treat diseases involving the nervous system. Its first product is a catheter-based microchip sensor that has the ability to detect and differentiate neural signals with far greater sensitivity than current technologies. It will be used to treat pancreatic cancer paid and pancreatitis pain. The company intends to use the technology on other diseases. Human trials have not yet started.

The company was founded in 2014 in Excelsior, Minnesota by Dr. Robert Schwartz and Landy Toth. They now serve as the Chief Medical Officer and Chief Technology Officer respectively.

The rest of the management team are alumni of Soliton, a company that was developing a device that used acoustic shockwaves initially intended to remove tattoos. The company, based in the Galleria, went public in 2019 and was acquired by AbbVie for $550 million in 2021. The device is to marketed to reduce cellulite.

  • Walter Smith (former CEO at Soliton) is the Executive Chairman
  • Lori Bisson (the former CFO) is the CEO
  • Trent Smith (the former Corporate Controller) is the CFO

The company doesn’t have any revenues yet and estimates that it will need to raise of a total of $50 million to bring the product to initial commercial launch.

You can see the complete list of Houston-area public companies here.

https://www.globenewswire.com/news-release/2024/01/26/2818287/0/en/Autonomix-Medical-Inc-Announces-Closing-of-11-2-Million-in-Gross-Proceeds-from-Initial-Public-Offering.html

 

 

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